24,296 Shares in Ashland Inc. (NYSE:ASH) Acquired by Gries Financial LLC

Gries Financial LLC bought a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 24,296 shares of the basic materials company's stock, valued at approximately $1,441,000. Gries Financial LLC owned approximately 0.05% of Ashland as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ashland by 276.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,392 shares of the basic materials company's stock worth $735,000 after purchasing an additional 9,100 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ashland in the 1st quarter worth about $273,000. Private Trust Co. NA lifted its holdings in Ashland by 33.5% in the 1st quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company's stock valued at $87,000 after purchasing an additional 368 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in Ashland by 18.0% in the 4th quarter. Ceredex Value Advisors LLC now owns 148,433 shares of the basic materials company's stock valued at $10,607,000 after purchasing an additional 22,600 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in Ashland by 13.3% during the first quarter. Vontobel Holding Ltd. now owns 4,012 shares of the basic materials company's stock valued at $238,000 after acquiring an additional 471 shares during the period. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASH has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Wells Fargo & Company lowered shares of Ashland from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 1st. UBS Group cut their price objective on Ashland from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Mizuho set a $60.00 target price on Ashland in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Ashland presently has a consensus rating of "Hold" and a consensus price target of $68.40.

Ashland Stock Up 0.2%

Shares of ASH stock traded up $0.10 during trading hours on Monday, hitting $51.14. 431,757 shares of the company were exchanged, compared to its average volume of 564,428. The business's 50-day simple moving average is $51.18 and its two-hundred day simple moving average is $56.63. Ashland Inc. has a one year low of $45.21 and a one year high of $98.44. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -21.31, a P/E/G ratio of 1.44 and a beta of 0.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.15 and a current ratio of 2.32.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $514.79 million. Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The firm's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Sell-side analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, May 30th. This is a boost from Ashland's previous quarterly dividend of $0.41. Ashland's dividend payout ratio (DPR) is -69.17%.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.